It has continued on the air for years, with Clark as emcee. He missed one year after suffering a stroke in December 2004, but returned the following year, earning praise for his perseverance and fortitude.

“For 40 years, Dick Clark has been an iconic part of New Year’s Eve in Times Square whose charm and singular presence as a television host have helped make New Year’s Eve what it is today,” co-producers of Times Square New Year’s Eve of Times Square Alliance & Countdown Entertainment said in a statement. “We will remember Dick each time we welcome in the New Year in Times Square.”

In recent years, the main hosting duties were taken over by Ryan Seacrest, with Clark making appearances.

“Times Square is considered the crossroads of the world in no small part because Dick Clark’s New Year’s Eve celebrations there were beamed across the globe,” Mayor Michael Bloomberg said in a statement. “Generations of Americans grew up with Dick, and yet he seemed forever young. His spirit will always live on in Times Square, and in the hearts of millions of New Yorkers.”

“He was one of the greatest guys of all time,” Moonves said. “He was incredibly was charming. He had a great sense of humor. He was the ultimate showman. It was just great being around him.”

Officials are encouraging fans to leave flowers under the Ball at the Times Square visitor center.

Clark is survived by his wife, Kari, and children RAC, Duane and Cindy.

Please share your thoughts below…

(TM and Copyright 2012 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2012 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)